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183
Nov 14, 2012
11/12
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. >> you want the public employee unions to share the pain? >> you bet. i want them to share in the sacrifice. and this is what i say to public sector unions. listen, you can boo me now, but i'm the first governor who's walked into this room in ten years and told you the truth, and here's the truth. if you don't partner with me to get this done, in ten years, you won't have a pension. and that's the truth. >> but it's also the truth that some of the responsibility for new jersey's pension woes lie at the doorstep of the governor's mansion. christie and his predecessors have failed to contribute the state's share of its pension obligations in 13 of the last 17 years, one of the reasons the fund is going broke. christie says it's ancient history. >> we spent too much on everything. we spent too much. we spent money we didn't have. we borrowed money just crazily. the credit card's maxed out, and it's over. it's over. we now have to get to the business of climbing out of the hole. we've been digging it for a decade or more. we got to climb now, and climbing's
. >> you want the public employee unions to share the pain? >> you bet. i want them to share in the sacrifice. and this is what i say to public sector unions. listen, you can boo me now, but i'm the first governor who's walked into this room in ten years and told you the truth, and here's the truth. if you don't partner with me to get this done, in ten years, you won't have a pension. and that's the truth. >> but it's also the truth that some of the responsibility for new...
757
757
Nov 19, 2012
11/12
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fees and the commissions here, but you won't find them all, and i bet you won't find half of them. >> there are legal fees, trustee fees, transactional fees, stewardship fees, bookkeeping fees, finders' fees, and the list goes on and on. miller's committee has heard testimony that they can eat up half the income in some 401(k) plans over a 30-year span, but he has not been able to stop it. >> we tried to just put in some disclosure and transparency in these fees, and we felt the full fury of that financial lobby. >> david wray, a lobbyist for the 401(k) industry, says he favors disclosing the fees, but his partners in the financial industry don't. >> do you think most people know these fees exist? >> i think they know that there are fees. they don't know exactly how large they are. >> why do you think the financial services industry is opposed to fee transparency? >> i don't know that they're opposed to it. i think the issue is that-- >> you don't think they're opposed to it? >> well, they want to keep things-- >> you're a lobbyist in washington, right? you know they're opposed to it
fees and the commissions here, but you won't find them all, and i bet you won't find half of them. >> there are legal fees, trustee fees, transactional fees, stewardship fees, bookkeeping fees, finders' fees, and the list goes on and on. miller's committee has heard testimony that they can eat up half the income in some 401(k) plans over a 30-year span, but he has not been able to stop it. >> we tried to just put in some disclosure and transparency in these fees, and we felt the...
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171
Nov 21, 2012
11/12
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. >> retired cop, bet you anything there to protect that fedex delivery person. >> turns out he was right. but loebl learned all of this the hard way. in 1999, he was followed leaving a department store in cincinnati. after waving off his police escort, he stopped at this restaurant. when he came out, a van screeched up next to his car. >> how many of them were there? >> five. >> how much did they get? >> they got over $5 million. >> it's a pretty good haul. >> it's a frightening-- it's a frightening haul. >> in 2003, south american gangs were responsible for 195 jewelry robberies, stealing more than $50 million in merchandise. this video, taken from a police helicopter, shows one of their favorite tactics. notice the gang member getting out of the car and sneaking up on a jewelry salesman's vehicle to puncture his tire. >> what we've been seeing is, they'll pop your tire. you'll have a slow leak. you'll be driving. you'll pull over because you have a flat tire. >> then they will strike with paramilitary precision. in fact, police believe some of the leaders may be former military or poli
. >> retired cop, bet you anything there to protect that fedex delivery person. >> turns out he was right. but loebl learned all of this the hard way. in 1999, he was followed leaving a department store in cincinnati. after waving off his police escort, he stopped at this restaurant. when he came out, a van screeched up next to his car. >> how many of them were there? >> five. >> how much did they get? >> they got over $5 million. >> it's a pretty good...
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Nov 12, 2012
11/12
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you know, mr. chairman, i think the federal reserve, for most people, is a mystery. >> well, it's an institution that people don't hear so much about, but it's a very important one. it manages monetary policy for the country. it's one of the main tools we have for stabilizing our economy and keeping prices stable. >> when was it founded? >> the fed was created by congress in 1913, and its original purpose was to deal with financial panics, which is what we're doing right now. >> bernanke's crisis started in 2007 with the mortgage meltdown. lenders began to fail. bernanke cut interest rates repeatedly. in 2008 the fed stopped the collapse of bear stearns by arranging a sale to another firm, but then came the end of wall street as we knew it. mortgage giants fannie mae and freddie mac were seized by the government. on september 14th, merrill lynch was sold in distress, and the next day, 158-year-old lehman brothers failed. you didn't rescue lehman brothers. it set off a worldwide panic when it went b
you know, mr. chairman, i think the federal reserve, for most people, is a mystery. >> well, it's an institution that people don't hear so much about, but it's a very important one. it manages monetary policy for the country. it's one of the main tools we have for stabilizing our economy and keeping prices stable. >> when was it founded? >> the fed was created by congress in 1913, and its original purpose was to deal with financial panics, which is what we're doing right now....